Morrow Enterprises Inc.

Chart of Accounts Amount Descriptions T Accounts Journal structions Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accunts, with balances on as follows: January 1, 20Y6, are Common stock, $20 stated value (500,000 shares authorized, 383,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,700 shares, at cost) $7,660,000 957,500 35,012,000 462,600 The following selected transactions occurred during the year: Paid cash dividends of s0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $21,438 Jan. 22 Apr. 10 Issued 77,000 shares of common stock for $23 per share. Jun. 6 Sold all of the treasury stock for $27 per share. jul, 05 Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $26 per share. Check My Work Previous 3:55 PM ^di) 12/3/2017